LAB-factor perks up TN Petro: With the firming of linear alkyl benezene (LAB) prices the punters have shifted their focus to the T N Petroproducts counter. The scrip in last three trading sessions has moved up from Rs 15.8 to Rs 18 on the Bombay Stock Exchange. With the shift in consumer preferrence towards synthetic detergents, demand for LAB (a major raw material for production of synthetic detergents) is going up. Domestic prices ofLAB are currently 29 per cent higher than the respective previous year levels.

Punters target Cauvery Software: Punters have started logging into Cauvery Software Engineering Systems ahead of its extraordinary general meeting (EGM) on January 25. The EGM will consider the issue of equity shares on a preferential basis to a `select group of persons other than the promoters and existing shareholders'. According to market sources, an NRI is picking up around 10 per cent stake in the company at a premium. In anticipation of the preferential allotment, the stock has already risen by 50 per cent.

UGS 10,000 opens for repurchase: UGS-10,000 a growth oriented interval fund launched by the Unit Trust of India, is currently open for sale and repurchase. The fund which primarily invests in MNC stocks will be open for sale and repurchase till January 10. The scheme was initially open on a preferential basis to the unitholders of UGS-2,000 and UGS-5,000. The scheme mobilised Rs 70.40 crore in theinitial offer period which ended on May 29, 1998. It was subsequently open for repurchases from December 7-12 and thereafter in the first week of every month.

Sebi suspends 4 brokers: The Securities and Exchange Board of India has suspended four brokers from different stock exchanges on account of various irregularities and failure to comply with regulations. Nirupama Patel of Madhya Pradesh Stock Exchange, Hitesh Kchotai of Saurashtra Kutch Stock Exchange and Sharad Kumar Jain of Jaipur stock exchange have been suspended for a period of three months, while the brokerage firm, Nikhil Securities Ltd, has been barred from trading for three months.

Book profits in heavyweights: With ITC, BHEL and HLL exhasuting their immediate potential, the Sensex would have to look for drive elsewhere. The other stocks, in my view, have the potential to provide the thrust. In case the Sensex reacts, it could find support at 3144. My advice would be to continue to go long on the middle and featherweight stocksin the Sensex folder irrespective of any pull-back in the index due to heavyweights.

Book profit in Carrier Aircon: It is time to book profit in Carrier Aircon. Earlier, the scrip had reached a high of Rs 308; the decline started from there and the scrip hit a low of Rs 165. It rose again from there and this time topped out Rs 268. The next decline brought it to Rs 194. It has now risen to Rs 240. At this level, as it can be seen in the chart, the scrip is coming up against the trend resistance line. Collect your profit before others do!

Stocks rise sharply on NSE: Share prices rose sharply on the first day of the current settlement at the National Stock Exchange due to good FII buying. The market opened on a buoyant note and prices improved further to close sharply higher with and Nifty rose by over 21 points. The S&P CNX Nifty rose sharply by 21.05 to end at 928.25 from Tuesday's close of 907.20. The CNX Nifty Junior closed 20.05 points higher at 1590.95 from the last close of 1570.90.The S&P CNX Defty rallied by 17.35 to 756.60 from 739.25.

Volatile trade on DSE: Share prices bounced up, riding on volatile trading amid speculative and light foreign fund buying in select bluechips on the Delhi Stock Exchange. Reflecting the mood of the market, the Delhi Stock Exchange index jumped up by 11.86 points to move past the 700 point psychological barrier and closed at 701.06 points. According to brokers, the rise in the key indices was partly due to heavy speculative buying in shares of HLL on rumours that the company will issue bonus shares which was later denied by the company.

Sentiments up on CSE: Despite profit-taking at higher levels, selected scrips on the Calcutta Stock Exchange finished with gains over their previous levels following initial advance led by HLL. With profit-taking emerging at higher rates, several counters closed the day below their Tuesday's rates. The turnover was large and undertone steady. The new advance in key counters lifted the 40-share index ofCSE to 1783.12 points. The highest and lowest of the day being 1799.05 points and 1773.21 points, respectively.

Nikkei gains 1.8 per cent: Japanese stocks ended 1.8 per cent higher as the dollar's rebound against the yen triggered buying in exporter bluechips. The key Nikkei 225 index rose 235.72 points to close at 13,468.46, accelerating gains in late trading. The Topix index of all first-section stocks rallied 10.43 points to end at 1,058.76. Leading exportersattracted buying. Singapore index up 5.7%: Singapore share prices closed 5.7 per cent higher on strong foreign buying, dealers said. The benchmark Straits Times index of the Stock Exchange of Singapore gained 78.73 points to end at 1,464.97 while the broader All-Singapore index rose 15.71 to 393.97.

Malaysian stocks surge: Malaysian share prices surged 3.3 per cent largely on institutional support in line with rises in regional markets, dealers said. The Kuala Lumpur Stock Exchange's composite index rose 18.59 points to end at 586.48points.